MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE:R), a leader commercial fleet management, dedicated transportation, and supply chain solutions, announced today that the Greater Houston Retailers Cooperative Association, Inc. (GHRA) — which provides sustainable value to independent convenience store members and supplier partners in the Greater Houston area — has outsourced its truck fleet to Ryder with a Full Service Lease (FSL) agreement for 25 box trucks, set to be delivered in November. Under a FSL, Ryder acquires vehicles according to the customer’s specifications, provides financing, maintenance, and fleet support services, and then manages vehicle disposal to protect customers from residual risk. This is the first time GHRA has outsourced its fleet.
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“We wanted to understand the true cost of running our fleet, which is why we turned to Ryder,” said Nick Gibbons, General Manager, GHRA. “We opted to outsource because managing fleet maintenance entails a great deal of time and resources. GHRA is confident that the maintenance experts at Ryder will help us keep our vehicles safe and on the road, which will give us the ability to focus more on what we do best—serving our customers.”
Members of GHRA include convenience stores and gas stations in the Greater Houston, Bryan, Beaumont, Huntsville, and Galveston area, which, through their membership, gain access to benefits such as bulk buying power, product discounts, and rebate programs, along with educational and training seminars. In business for the past 15 years, GHRA has witnessed continued growth and is now currently building a new grocery warehouse and distribution center. This new warehouse and distribution center will be able to manage all of its members’ grocery needs.
“We are eager to begin our new partnership with GHRA and to provide them with access to some of the best technicians and vehicle technology in the industry,” said Dennis Cooke, President of Global Fleet Management Solutions for Ryder. “As they continue to grow, we are confident that Ryder will meet their needs every step of the way.”
GHRA helps its members achieve better rates and discounts on goods and services they purchase, through negotiations with various vendors, including FORTUNE 500® companies. Almost one third of all C-Stores in the Greater Houston area are members of the GHRA. GHRA has a membership of 1,800 convenience stores and is one of the most innovative and developed convenience store cooperatives in the country.
Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom, Facebook, LinkedIn, Twitter, and YouTube.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.